Tuesday, July 28th17.5°C
27107
26337

Shares of sports camera maker GoPro jump nearly 30 per cent in stock market debut

NEW YORK, N.Y. - Wall Street has a taste for adventure.

Investors sent shares of GoPro Inc. up more than 30 per cent in their stock market debut Thursday, following an initial public offering that valued the sports camera maker at about $3 billion.

The company makes wearable sports cameras that are used by skydivers, surfers and other extreme sports fans to film themselves as they create first-person videos that capture the experience as they saw it. The cameras, which are light and waterproof, cost between $200 and $400. It also sells accessories such as cases, battery packs and mounts that help users attach their cameras to surfboards, helmets or their wrists. Users can download a free app or computer software to edit, store and publish their videos to their social media accounts, including Facebook, Instagram, Twitter and YouTube.

GoPro had the bestselling camcorder last year, according to government paperwork filed by the company. Its revenue jumped to $985.7 million in 2013, nearly double what it was a year earlier. However, in the first three months of 2014, revenue fell 7.6 per cent to $235.7 million from a year ago.

With its IPO, GoPro and selling shareholders raised $427 million after selling 17.8 million shares at $24 each. The San Mateo, California, company plans to use its share of the money raised to pay down debt.

GoPro shares rose $7.73, or 32 per cent, to $31.73 in afternoon trading Thursday after rising as high as $33 earlier.

GoPro shares are trading on the Nasdaq stock exchange under the symbol "GPRO."

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14001.37-184.87
S&P CDNX581.71-10.78
DJIA17440.59-127.94
Nasdaq5039.78-48.85
S&P 5002067.64-12.01
CDN Dollar0.7681+0.0012
Gold1093.90+8.30
Oil47.54-0.31
Lumber258.10+0.40
Natural Gas2.791+0.002

 
Okanagan Companies
Pacific Safety0.18-0.01
Knighthawk0.010.00
QHR Technologies Inc1.36-0.04
Cantex0.05+0.00
Anavex Life Sciences0.91+0.13
Metalex Ventures0.06-0.01
Russel Metals19.45-1.73
Copper Mountain Mining0.80-0.03
Colorado Resources0.06+0.00
ReliaBrand Inc0.0045-0.0022
Sunrise Resources Ltd0.03+0.01
Mission Ready Services0.15+0.00
Decisive Dividend Corp2.70-0.05

 





FEATURED Property
202582715686 Whiskey Cove Road
3 bedrooms 3 baths
$7,500,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_



27114




Member of BC Press Council


26632